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��15��858 In the event of ioss,$arrow�r shall gi�e Lender imme�iate notice by mai1. Lender naay mak�pr�af of��ss�f not made�romptly by Barr�v�er.Each insurance company eoncern�d is hereby authorized and directed to mak�payment for su�h loss directly to Len�.�r,ins�e�d af to Borrower and to Lender joint�y.�i�ar any part of the u�surance proceeds may be app�ied by L�nd�r,at��s opti�n,either�a}t�the reduct�on of the ind�bt�dn�ss und�r the Nate and th��S�curity Instrument,first ta any d�Iinquen�arnounts applied ir�t�ie order in paragraph 3,and then to pr�paymen.t of princigal,or(b)to the restoration or repair�f the damaged Froperty.Any applic�.tiaa of the proceeds�o the�rincipal shal[not extend or po5�pone�he due da�e of the monthly payments which are referr�d to in paragraph 2,ar change the amount of such payments,Any excess �nsurance proceeds ove�aa amount r�quiret�to pay a11 outstanding indeb�edness under the N�te and this Security�n�trument�ha�l be pa�d ta the entity legaily entitled thereta. In t�e event of forecl�sure of th�s Security Ins�ru�nen�or other transfer of title to the Property that extinguishes�h�iadebtedness,a��rig�.t,title and interest of$arro��r��and�o insuranc��a�iG��s in force sha�1 pas�to th�purcha�er, 5, C3ccupancy, Preservat�on, Ma�ntertanc�ar�d Protec�ion of the Prc��erty; B�rrower`s Laan �4p��i��t�on;Leasehvlds�orrawer shall o��u�ay, establish, and use the Pr�perty as Borrower"s principal reside�ce vvi�hin s�xty days a#�er the execut�on of this Security Instrumen�[�r within sixty days of a later sale or#�ansfer vf th�Property}an.d sha11 cantinu�tn occup�the Property as Borrower's�rincipal residenc�for at teast on�year a�er th�date�f occupancy,unless Lender determin�s�hat requir�ment wilt cause undue hard�hip for Borrawer,o�'u�less extenuating circurns�a.nc�s�xist which are be�rond Barrower's control. Borrower shall ntitify Lender of any�xtenuating circums�anc�s. Borrovv�r shall not camrnit waste or destroy, damage ar substan��a��cha�.g��he Property v�all��the Proper�y to�ieteri�rate�rea�anable wear�.nd tear excepted. Lender may inspect the Property if the Praper�y is va�ant�r abandon�d�r the loan is in default. Letzder rr�a3��.ke reaso�ab�e act��n to�rt�tect and preserU�suGh�a�ant ar aban.d�ned Pro�erty.Borrawer shall also be in default if B�rrower,durin�the��an app�ication proc�ss,gave mat�rially false or ina�curate �nformation�r stat�me�ts to Lender�or fai�ed to pr��de�ende�'�ith a�.�r materia��fa�rnation�in e�nnectian with the laan evide�.eed by the No��, in��uding,but n�t limit�d ta,r�pr�sentatians cane�rn�ng Borra�rer's occupancy of th�Prvpert�as a prYnc�pa�r�sfden�e. If th�s Se�ur�ty Instrument is on a�easehQ�d, Borrart�ver shall comply with t�ie provisians af the lease.If Borr�wer acqu�re�fee title to the l�roperty,the leasehald and f�e tit�e sha�t not be merged unless�enc�er agrees ta the merger�n�vr�ting. fi. �ondemnat�on.The pro�eed�c�f any awa�d or clairn for damages,direct or consequential,in cQnne�tion �vvith any caademnatian or other taking of aay part af the Property, or fvr canveyance in place af cander�n.at�on,are her�by assigne�and shall be paid tv Lender to the extent of the full amount af the indebtedne�s that remains unpaid under th�Note and this Security Instrumer�t. Le�xder shall a�p1y such proceed�t4 the Fe�uctian of the inde�atedness under the 1Vote and th�s Se�urit�r Insttruu�ment, fust to any delinquent arnounts applied in th�order provid�d in paragraph 3,and�hen t�prepayment of principal,Any ap�ticat�on�€�h��rc�c�eds tQ the pr��c}pal sha�1 not extend�r pvstpane the due da�e of the monthly payment�,which are referred to in paragraph 2,4r change the amount of suc�.payrnents,Any excess pr�ce�ds�ver an amdunt requ�r�d to pay a��autsta.nd�ng ir�debt�d�ess t��d�r the NQt�and this Security Instrum�nt sha11�e paid to the entity l�gal��r ent�tied thereta. 7. Charges to Borrawerand Prvt�ctivn of Lender's Righ�s in the Property.$orrawer sha1l pay a1I g�vemmentai or murucipal chaxges, fines and impositians t�at are not in�iuded in�aragraph�. Borrower sha11 pay these a�li�ations oa��rne directly to tbe ent�ty which is owed the payment. If failure to pay wou[d adversely affe�t L�r�d�r's interest in the Property, up�n Lender's request Borr�w�r shall prQmptly furnish ta Lender receipts evidencing these payments, If Borrower fails��make�hese paymen�s c�r�he payments requ�.red by paragraph�,ar fa��s to perform any other�a��nants and agreements contained in.this Security Instrum�nt,ar there�s a legal proceeding that may FHA Mor�qage WlTH MERS-NE Re�ised 4196 VMP� VMP4N[NE)(93Q2�.4� Wo�ters Kiuwer Financial 5ervi�es qQ334588�182 �233 317 ��1� Pa9e 4 of 10